Austrian Currency Reform 1945-1955

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Austria in 1945 was a war-ravaged country, and the four Allied powers that occupied it needed to make difficult decisions about the country’s future. The economic situation required immediate attention, and a new money needed to be implemented. This was done in 1945, and by the time Austria was left a sovereign nation in 1955, the Schilling was a strong, successful currency. My research answered the question, “Why was the implementation of the Austrian Shilling so successful?” I first established, with economic data, that the reform was actually successful. My research then measured this success through an examination of social, nationalistic and economic factors. This project has been a qualitative one with a thorough literature review. This is a significant study because although much has been done with the German currency reform, the Austrian situation has been virtually ignored. My research provides insight into this one specific incident of Austria’s rich history.